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Safe haven buying in gold

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Gold, Daily After the dreadful events in Paris the market participants are once again turning to the oldest of safe haven plays, gold. This morning gold price jumped higher with a gap opening and is trading now 1.25% higher than it closed on Friday. Such a strong opening after price has found support from a previous low is usually a sign of higher prices to come. Another factor that’s likely to have played some role in today’s gold rally is the fact that Japan’s GDP tumbled 0.8% in Q3 (q/q).

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